Handelsbanken Fonder AB held its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the first quarter, according to its most recent disclosure with the SEC. The fund owned 470,000 shares of the network equipment provider’s stock at the end of the first quarter. Handelsbanken Fonder AB’s holdings in Cisco Systems were worth $15,886,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the stock. Seven Eight Capital LP purchased a new stake in shares of Cisco Systems during the fourth quarter worth $112,000. Financial Management Professionals Inc. raised its stake in shares of Cisco Systems by 17.7% in the first quarter. Financial Management Professionals Inc. now owns 4,218 shares of the network equipment provider’s stock valued at $118,000 after buying an additional 635 shares in the last quarter. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Cisco Systems during the fourth quarter valued at approximately $128,000. Jackson Grant Investment Advisers Inc. raised its stake in shares of Cisco Systems by 4,150.0% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 4,250 shares of the network equipment provider’s stock valued at $128,000 after buying an additional 4,150 shares in the last quarter. Finally, Riggs Asset Managment Co. Inc. raised its stake in shares of Cisco Systems by 23.1% in the first quarter. Riggs Asset Managment Co. Inc. now owns 4,393 shares of the network equipment provider’s stock valued at $148,000 after buying an additional 823 shares in the last quarter. Institutional investors and hedge funds own 75.28% of the company’s stock.
Cisco Systems, Inc. (CSCO) traded down 2.16% during trading on Friday, hitting $30.37. 34,802,193 shares of the stock were exchanged. Cisco Systems, Inc. has a 12-month low of $29.12 and a 12-month high of $34.60. The firm has a market cap of $151.64 billion, a PE ratio of 15.98 and a beta of 1.24. The stock’s 50-day moving average price is $31.48 and its 200-day moving average price is $32.55. Cisco Systems also saw unusually large options trading activity on Tuesday. Investors bought 24,568 put options on the stock. This represents an increase of 223% compared to the average daily volume of 7,606 put options.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 EPS for the quarter, hitting the consensus estimate of $0.61. Cisco Systems had a net margin of 20.02% and a return on equity of 17.04%. The company had revenue of $12.13 billion during the quarter, compared to analysts’ expectations of $12.07 billion. During the same period last year, the company posted $0.63 earnings per share. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. On average, equities analysts expect that Cisco Systems, Inc. will post $2.43 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Shareholders of record on Friday, July 7th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.82%. The ex-dividend date of this dividend was Wednesday, July 5th. Cisco Systems’s payout ratio is 60.73%.
CSCO has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Cisco Systems from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. Morgan Stanley upgraded shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $33.45 to $39.00 in a research note on Monday, May 15th. Credit Suisse Group upgraded shares of Cisco Systems from an “underperform” rating to an “outperform” rating and lifted their price target for the stock from $27.00 to $40.00 in a research note on Thursday, April 27th. Barclays PLC reiterated an “overweight” rating on shares of Cisco Systems in a research note on Saturday, April 22nd. Finally, William Blair reiterated an “outperform” rating on shares of Cisco Systems in a research note on Monday, July 3rd. Fourteen investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $35.38.
In other news, insider John T. Chambers sold 295,537 shares of the stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $31.52, for a total value of $9,315,326.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Karen Walker sold 7,802 shares of the stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $31.29, for a total transaction of $244,124.58. Following the completion of the sale, the senior vice president now directly owns 178,577 shares of the company’s stock, valued at $5,587,674.33. The disclosure for this sale can be found here. Over the last quarter, insiders sold 396,179 shares of company stock valued at $12,503,407. Corporate insiders own 0.11% of the company’s stock.
Cisco Systems Company Profile
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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